KiwiSaver managers say fee regulation will create ‘vanilla’ market

KiwiSaver managers say fee regulation will create ‘vanilla’ market
Paul Gregory, the FMA’s director of investment management, says not enough thought has gone into KiwiSaver fees.
Dan Brunskill
KiwiSaver fund managers told the Financial Markets Authority that attempts to limit fees will stifle innovation and result in low-quality, large-scale providers monopolising the market.  The FMA today released guidance with a set of principles to assess whether KiwiSaver providers are charging reasonable fees for the service provided.While the regulator won’t quite come out and say it, there is the suggestion many providers are charging hefty fees for murky service.  Over the past year the FMA has released some damning reports w...

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